Despite a slowing economy and weak profit outlooks, companies are throwing a record number of holiday bashes, some costing up to $1 million. They say it’s worth the expense because a splashy event is a cheap way of reaching customers and boosting productivity.

“It’s less expensive than advertising, and usually a lot more effective because you know exactly who you’re reaching,” said David Adler, CEO of BizBash, a 7,000-circulation publication covering the party and events circuit.

“What seems to work best for a lot of companies is F-to-F, or face-to-face marketing,” he said.

It includes dot-coms that are using up their dwindling cash on parties, such as Ask Jeeves.com, which threw a party at the American Museum of Natural History revolving around the Macy’s Thanksgiving Day Parade, an event that costs $100,000 and up to sponsor.

“A lot of the dot-coms are still going strong in their events,” said Adler. “They’ve discovered that face-to-face marketing is better than blowing a million on Super Bowl ads. They’re using their money wisely, not just partying.”

Last spring, dot-coms were literally giving away money at their events. Etours.com handed out $5 bills to departing guests at one event, and even gave them free limo rides home.

Company parties can make or break a career. Events usually are overseen by rising young executives, even COOs.

If you want to stay on the corporate fast track, think about using stilts for your bash. Or scantily-clad human guest books, where guests sign their names on bare flesh, or live penguins on bar stools. Those are some of the hottest gimmicks being used this season for company holiday parties.

There are also adult-themed Santas, which tell off-color jokes and prance in semi-nude outfits, and psychics that read snow flakes.

Adler said more than $3.5 billion will be spent this year on Big Apple events and parties, which are expected to hit a record of more than 100,000.

Scores of corporate parties are in the $500,000-to-$1 million-plus range, many of them thrown by Wall Street giants.

Credit Suisse is throwing its holiday party for 1,800 in the cavernous Pier 88 on the Hudson River, and like most Wall Street brokerages, is spending close to $1 million turning the pier into a winter wonderland scene with gourmet food, live music and fine wine.

Running up tabs is easy, with limos for VIPs and fancy menus that grow as executives keep adding more elaborate choices.

Event planners say this season’s “in” food is white truffles, which cost $1,850 per pound. For just 300 guests, that $12,000 plus another few thousand for chefs who know how to gently shave the precious ingredient onto the risotto.

Caviar? Beluga is $1,680 per pound, and some people can consume a quarter-pound in a bite or two.